Balyasny Asset Management L.P. Buys 451,806 Shares of Funko, Inc. (NASDAQ:FNKO)

Balyasny Asset Management L.P. lifted its stake in shares of Funko, Inc. (NASDAQ:FNKO - Free Report) by 123.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 817,638 shares of the company's stock after acquiring an additional 451,806 shares during the quarter. Balyasny Asset Management L.P. owned about 1.51% of Funko worth $10,948,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in FNKO. Marshall Wace LLP boosted its stake in shares of Funko by 384.3% during the 4th quarter. Marshall Wace LLP now owns 1,542,440 shares of the company's stock worth $20,653,000 after acquiring an additional 1,223,939 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Funko by 5,486.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 829,200 shares of the company's stock valued at $10,133,000 after purchasing an additional 814,357 shares during the period. Wealthfront Advisers LLC acquired a new position in Funko in the 4th quarter valued at approximately $4,425,000. Landscape Capital Management L.L.C. acquired a new position in Funko in the 4th quarter valued at approximately $3,606,000. Finally, Dimensional Fund Advisors LP raised its holdings in Funko by 17.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,544,963 shares of the company's stock valued at $20,688,000 after acquiring an additional 234,981 shares in the last quarter. Institutional investors own 99.15% of the company's stock.

Insider Activity

In other news, insider Andrew David Oddie sold 3,867 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $8.87, for a total value of $34,300.29. Following the transaction, the insider now directly owns 23,200 shares in the company, valued at $205,784. This trade represents a 14.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tracy D. Daw sold 18,608 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $7.14, for a total value of $132,861.12. Following the completion of the transaction, the insider now owns 26,332 shares in the company, valued at $188,010.48. This represents a 41.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,764 shares of company stock valued at $239,730. Company insiders own 4.81% of the company's stock.

Funko Price Performance

NASDAQ FNKO traded down $0.30 during trading hours on Wednesday, reaching $4.86. 1,064,876 shares of the company's stock were exchanged, compared to its average volume of 783,724. The stock has a market cap of $265.04 million, a PE ratio of -10.13 and a beta of 0.85. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average of $5.50 and a 200-day moving average of $10.06. Funko, Inc. has a one year low of $3.50 and a one year high of $14.65.

Funko (NASDAQ:FNKO - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.10. The company had revenue of $190.74 million during the quarter, compared to analysts' expectations of $191.96 million. Funko had a negative return on equity of 3.44% and a negative net margin of 2.29%. The business's revenue for the quarter was down 11.6% on a year-over-year basis. During the same period last year, the firm earned ($0.17) EPS. On average, equities research analysts predict that Funko, Inc. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FNKO has been the subject of several recent research reports. DA Davidson cut their price target on Funko from $13.00 to $7.00 and set a "buy" rating for the company in a report on Friday, May 9th. The Goldman Sachs Group raised Funko from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $7.00 to $5.50 in a report on Wednesday.

Funko Company Profile

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, Europe, and internationally. The company provides media and entertainment content, including movies, television (TV) shows, video games, music, and sports; figures, handbags, backpacks, wallets, apparel, accessories, plush products, homewares, and digital non-fungible tokens; and art prints and vinyl records, posters, soundtracks, toys, books, games, and other collectibles.